NEPRA approves generation tariff for K-Electric power plants post-June 2023

K-Electric Limited (KEL) has announced that the National Electric Power Regulatory Authority (NEPRA) has approved the generation tariff for all of its power plants for the period following June 2023. 

The Karachi-based power utility shared this development with the Pakistan Stock Exchange (PSX) through a notice on Tuesday in accordance with Section 96 and Section 131 of the Securities Act, 2015 and Clause 5.6.1(a) of the Rule Book of PSX. 

K-Electric had applied to NEPRA for approval of the generation tariff of all its power plants for the period post-June 2023, on December 01, 2021, in accordance with Rule 3 (1) of NEPRA (Tariff Standards and Procedure) Rules, 1998. 

K-Electric stated that it is currently evaluating the decision in detail and will consider available remedies if necessary, in line with the statutory provisions.

Additionally, K-Electric mentioned that the Multi-Year Tariffs for its transmission, distribution, and supply businesses for the period FY 2024 to 2030 are still under review by NEPRA. These tariffs are critical for the preparation of the company’s financial statements for the period post-June 30, 2023.